Use the data in Problem and Case 2.12.
In problem

Required:
(a) Prepare a calculation to prove the net loss on the sale of the truck.
(b) Prepare the cash flow from investing activities section of the cash flow statement for MHA for 2010.

Transcribed Image Text:

Medicine Hat ArtGlass Ltd Balance Sheet as at December 31 2010 2009 $ 75,000 18,500 42,000 50,000 145,000 Cash Accounts receivable Inventory Land Buildings Lees: Accumulated depreciation-Buildings Furniture and equipment (F &E) Less: Accumulated depreciation-E & E. Trucks Less: Accumulated depreciation Trucks Total assets $ 62,000 15,000 47,000 50,000 145,000 (110,000) 30,000 (12,000) 36,000 (22,000) (105,000) 24,000 (11,000) 50,000 (26,000) 241,000262,500 Accounts payable Taxes payable Bonds payable, 2018 Common shares Retained earnings Total liabilities and shareholders' equity $49,000 4,500 75,000 95,000 17,500 $35,000 6,200 50,000 95,000 76,300 5 241,0005 262500